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IRC Section 403(b)
Members of the Alternate Benefit Program
- Under age 50 $15,500 in 2008
- Over age 50 $20,500 in 2008
You may voluntarily tax shelter a portion of your salary from
federal income taxes while saving for retirement. Federal
income tax is not due on deferred amounts or accumulated earnings
until you receive a distribution (payment) from your account.
You may change your salary reduction amount by completing
and submitting a Carrier Allocation / Salary Reeducation Agreement form to Payroll
Services, 65 Davidson Road, ASB Room 317, Busch Campus.
Investment Carrier Comparison Guide
Voluntary Savings FAQs
IRC Section 457
Members of a state-administered retirement system (Public
Employees' Retirement System, Police and Firemen's Retirement
System, or Alternate Benefit Program), or any permanent or
temporary employee with at least 12 continuous months of employment.
- Under age 50 $15,500 in 2008
- Over age 50 $20,500 in 2008
You may voluntarily tax shelter a portion of your salary from
federal income taxes while saving for retirement. Federal
income tax is not due on deferred amounts or accumulated earnings
until you receive a payment from your account
A broad array of investment options.
- Complete the NJSEDCP enrollment kit.
- Return the completed forms to Prudential Retirement.
- Enrollment kits can be obtained from University Human Resources. To have an enrollment kit mailed to you, contact UHR at 732-932-3020.
Voluntary Savings FAQs
IRC Section 403(b)
Members of the Public Employees' Retirement System (PERS)
and members of the Police and Firemen's Retirement System
(PFRS)
- Under age 50 $15,500 in 2008
- Over age 50 $20,500 in 2008
You may voluntarily tax shelter a portion of your salary from
federal income taxes while saving for retirement. Federal
income tax is not due on deferred amounts or accumulated earnings
until you receive a payment from your account.
You may change your salary reduction amount by completing
and submitting a Carrier Allocation / Salary Reeducation Agreement form to
Payroll Services, 65 Davidson Road, ASB Room 317, Busch Campus. Forms must be returned by the 10th of the month to be effective
the first payroll of the following month.
Voluntary Savings FAQs
IRC Section 403(b)
Members of the Public Employees' Retirement System (PERS)
and Police and Firemen's Retirement System (PFRS)
You may contribute between 1% and 10% of base salary.
Limits:
- Under age 50 $15,500 in 2008
- Over age 50 $20,500 in 2008
SACT is a voluntary investment program that provides retirement
income in addition to your basic pension plan. Contributions
are invested conservatively in the stock market.
SACT Regular Plan
Contributions are made post-tax. When funds are withdrawn,
contributions are not subject to federal tax. However, your earnings are taxable.
SACT Tax-Sheltered Plan
A portion of your salary is tax deferred. Federal income tax
is not due on deferred amounts or accumulated earnings until
you receive a distribution (payment) from your account.
- Enrollment is done on a quarterly basis.
- Complete a SACT Enrollment Request, available from University Human Resources.
- Complete a SACT Salary Reduction Agreement required for SACT
Tax Sheltered Plan.
- Mail completed forms to University Human Resources, 57 U.S. Highway 1, Cook Campus.
- University Human Resources will certify the enrollment and
forward it to the SACT office. Enrollment will be effective
the 1st of the next quarter.
- You may change or suspend your salary reduction amount by
completing and submitting a SACT Salary Reduction Agreement form to University Human Resources, 57 U.S. Highway 1, Cook Campus.
- University Human Resources will certify the change and forward
it to the SACT office. The change will be effective the 1st of
the next quarter.
- The SACT Salary Reduction Agreements may be filed quarterly.
Voluntary Savings FAQs
To submit a comment or to report any problems with this site, please email us. For questions about University Human Resources programs and services, please email our Operations Team.
© 2006 Rutgers, The State University of New Jersey. All rights reserved.
Last Updated: 01/09/2008
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